Lifetime Brands, Inc. Launches Offering of 2,500,000 Common Shares
WESTBURY, N.Y., Nov 07, 2005 (BUSINESS WIRE) -- Lifetime Brands, Inc. (NASDAQ: LCUT) announced today the commencement of a public offering of 2,500,000 shares of common stock, consisting of 1,500,000 primary shares and 1,000,000 secondary shares. A majority of the secondary shares are being offered by Lifetime's retired former Chairman and co-founder, Milton Cohen, and members of his family. Lifetime and certain selling shareholders will grant an option to sell up to 375,000 shares of their common stock to cover over-allotments, if any.
Citigroup Corporate and Investment Banking will act as the sole book-runner for the offering and Adams Harkness, Inc. will act as a co-manager for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state. Copies of the preliminary prospectus may be obtained from Citigroup Corporate and Investment Banking, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (tel: 718-765-6732; fax: 718-765-6734).
About Lifetime Brands, Inc.
Lifetime is a leading designer, developer and marketer of kitchenware, tabletop accessories, cutlery and cutting boards, bakeware, and pantryware and spices, marketing its products under various trade names, including Pfaltzgraff(R), KitchenAid(R), Farberware(R), Cuisinart(R), Sabatier(R), Calvin Klein(R) and Hoffritz(R). Lifetime's products are distributed through most major retailers in the United States.
SOURCE: Lifetime Brands, Inc.
Lifetime Brands, Inc.
Robert McNally, 516-683-6000
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Harriet Fried, 212-838-3777